It does make sense. In an ideal world software would be able to do it but like you have said in the post and in comments, it's never 100% accurate and I doubt it will ever be. Some things are best left to humans (who don't make typos!)

Great post Steve! I have transcribed a few videos for clients in the past and found the results from doing so (on YouTube) to be pretty good. After all, it makes the videos more accessible and provides Google with more content to understand the videos.

Do wish I knew about Speech Pad though. Although the video's weren't that long. And I can now type a bit faster!

Great advice! I run a weekly SEO Training session in the office where I invite one member of the team to do a 30 min talk on a certain aspect or development in SEO to help the whole team learn. It usually ends up in a discussion which can last an hour but it's good that we get the time to all sit down and discuss SEO. It also helps people get better talking in front of a group, perfect for then presenting to clients!